TradingSuccess
Long

UK100 waiting for the completion of the Butterfly Pattern

FX:UK100   FTSE 100 index of UK listed shares
Right now a perfect, bullish Butterfly Pattern is being formed on UK100             Index.

Really good R/R ratio and high probability for profit.

Entry zone should be around 1.272 Fibo of the XA leg, and SL should be right under 1.414 Fibo of the XA leg.

Take profits are 38,2 and 61,8 Fibo retracements of AD confirmed by previous structures

If you look at RSI , Stochastic , MACD , etc. you'll also see a nice Divergence near the oversold zone, so it's another good signal for a long position.
I like your style! You´ve posted some really great chart setups, i´m a harmonic pattern trader myself.

Kind regrads
Thomas Jeff
Reply
TradingSuccess ThomasJeff_DCM
2 years ago
Thank you Thomas, I really appreciate it, markets look like a complete chaos, but in my opinion there is some balance in price movements, that's why harmonic trading is one of the most accurate strategies and that's why I'm using it :D
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